Title
USE OF CITY PROPERTY AT LESS THAN FAIR MARKET VALUE
Recommendation
Summary:
At the March 14, 2019, Finance Committee meeting, Council Member Brenner requested a report regarding the value of the properties rented for charitable purposes and expressed a desire to see a Finance Policy on how often the City should conduct a market analysis of the leased properties. Chair O’Neill recommended an item be placed on a future agenda to discuss a potential F-Policy update and requested a discussion with Community Development Department staff.
Recommended Action:
Review the list of properties and agreements with less than open fair market value rent, and provide input to staff.